Carnival of Debt Reduction

Thanks to all for joining me for for the latest Carnival of Debt Reduction. I must have been feeling slightly nostalgic for the bad kids movies of yore. So this is the The "Honey, I Shrunk the Debt!" edition.



I've broken up the posts into various groups. The thing to remember is that debt isn't just one stage. It's a set of steps. And even those of us in the midst of it can use refresher courses from time to time.


With that in mind, read on and enjoy!

The rewards of a job well done.

Editor's "pet" posts

Patrick discusses How Do You Improve Your Credit Score When Credit Companies Close Your Account? posted at Cash Money Life. According to him, "Many credit card companies are jacking up interest rates or closing accounts, which makes it difficult for people to repay their loans as quickly."



Peter at Bible Money Matters reminds us, "Sometimes we just need someone to knock some sense into us when we're making bad decisions." He details this in his post Accountability: Sometimes You Need Someone To Slap You On The Back Of Your Head.



DR gives us examples of easy-to-use, green technology in Get Your Green On–13 Energy (and Money) Saving Gadgets posted at The Dough Roller.

Feel like you're drowning in debt?

Now's the time to take action

Okay, if you're looking to start out on the debt reduction path, you need to know the basics. The Digerati Life gives us a good overall primer in The Dave Ramsey Budget: Budgeting Tips For Successful Savers.

Big Cajun Man at Canadian Personal Finance Blog offers some Advice for New Grads. He offers some tips, not just on getting rid of debt, but also about building a lifestyle to facilitate debt reduction.



Len Penzo gets biblical in My Ten Commandments of Personal Finance posted at Len Penzo . Com. While the Internet isn't exactly a set of stone tablets, these are good overall rules to build your debt-reduction upon. (For those already in the process, it can be a good refresher course.)



Those who are swarmed by debt may be tempted to try a debt-reduction program. These are can be regular companies or organizations preying on people's desperation. Billeater gives a very important set of guidelines to Avoid Debt Reduction Scams. There are some good rules of thumb in this post, so be sure to check it out.

From what APR is, to the very basic tenets of debt reduction, Jesse Michelsen gives it all to you in The Most Important Part Is Starting: Debt Recovery over at Personal Finance Firewall.

Back on solid ground

From here to there, one step at a time

Ralph Jean-Paul talks about Building Self-Discipline. In this post, he reminds us about overall discipline (vs willpower). This is an important theory for those of us struggling to deal with temptation while on a budget. Check it out at Potential 2 Success.




Destroy Debt reminds us to stop being so wasteful. Just because you can't squeeze any more toothpaste out, that doesn't mean the tube is empty. Check out the various ways to get ever last bit of your products in Good Til The Last Drop: Use it Before You Throw it In the Trash posted at Destroy Debt.

Another Money Blogger talks about his success with saving spare coins. Check out The Power of the Pocket Change Jar.

Here! Take it already!

Throw money at debt

Fabulously Broke ...in the City gives us some ideas to lower grocery bills. These are ranked as easy, medium or hard. (A good reminder to try one or two at a time!) Check out her 10 Tips to save on Groceries each month.

Laura asks What Have You (Totally) Eliminated From Your Spending? For real results, most of us have to make some sacrifices. This lets us make bigger payments on our debt. So, what have you given up? Tell her at No More Spending.

J. Money at Budgets are Sexy offers "I Will Teach You To Be Rich" - Review. Get his opinion on this guide to both debt reduction and wealth-building.

Two heads are better than one

A closer look at your finances

Christian Debt Help admits to past financial ignorance -- and it wasn't bliss. Read (and learn from) his "oops" story in Money Mistake: Not paying attention to interest rates.

FMF asks, "Is payiing off debt always the best option?" Read his exploration of this question in Pay Down Your Mortgage or Sock Money Away for Retirement? at Free Money Finance.

On a similar note, Pinyo at Moolanomy asks what many people in the midst of debt reduction wonder: Should You Pay Off Your Debt Before Investing?

Green Panda Treehouse discusses Two Ways To Wisely Spend Your Tax Refund. According to GPT, "Using a small windfall like your tax refund is a great way to take a huge chunk of of your debt."

For those of you still struggling with your mortgages, Madison at My Dollar Plan reviews the Making Home Affordable Program Details. Learn more about this program and how it could help you.

***

Well, folks, that wraps up this edition of the Carnival of Debt Reduction. Hope you enjoyed the reading!


I know all the authors put a lot of effort into their posts, so be sure to stop by their sites and give them some kudos!